Highline Residences Review



  • Yasmin Beevi
  • 13 June 2016

Keppel Land is the property arm of the Keppel Group, one of Singapore’s largest multinational groups with key businesses in offshore and marine, property as well as infrastructure. Its portfolio include residential developments and investment-grade commercial properties. The firm is diversified in Asia, with Singapore and China as its core markets as well as Vietnam and Indonesia as its growth markets.  

Project Name: Highline Residences

Address: Kim Tian Road

Site area: Approx. 118,303 sqft

Tenure: 99 years from July 2013

District: 3

Configuration: 500 residential units

Unit types:        

66 1-bedroom units (506 sqft)

95 2-bedroom units (635 / 700 sqft)

43 2-bedroom deluxe units (667 / 743 sqft)

98 3-bedroom units (883 / 904 / 915 sqft)

127 3-bedroom deluxe units (1076 / 1087 / 1109 / 1152 sqft)

24 3-bedroom Dual Key units (1,130 / 1,152 / 1,206 sqft)

33 4-bedroom deluxe units (1,292 sqft)

8 4-bedroom Dual Key units (1,227 sqft)

6 single-level penthouse units (2,174 / 2,250 / 2,260 sqft)

Maintenance fees: TBA

Parking lots:      

13 surface lots

391 basement lots

5 handicap lots

Expected TOP: December 2018

Expected legal completion: December 2021

Project Details

Highline Residences is a 500-unit development located along Kim Tian Road. At time of writing (May 2016), 80% of the released 270 units have been sold. All unit types are still available, with the exception of the 1-bedders, which have been mostly already spoken for.

highline residences show flat

For interested buyers, the show flat is on site, along Kim Tian Road.

highline residences construction

 

Construction is progressing and the blocks are already partially standing.

highline residences model

 

Source: Developer's Brochure

Source: Developer’s Brochure

The project consists of 7 blocks of residential units ranging from four storey to 36 storeys tall.

 

Facilities are spread out evenly across the development, and even between the floors.

tiong bahru, condo

Source: Developer’s Brochure

tiong bahru, condo

Source: Developer’s Brochure

tiong bahru, condo

Source: Developer’s Brochure

tiong bahru, condo

 

For 1-bedroom units, stack 9 is inward facing with a pool view.

Stack 15 is inward facing with a partial pool view.

For 2-bedroom units, stacks 10 and 18 are inward facing towards the pool deck and children’s playground respectively.

Stack 12 is outward facing towards Tiong Bahru Road.

For 2-bedroom deluxe units, stack 24 is outward facing but overlooks the water cascade feature and a future park.

Stack 14 is inward facing towards the pool deck.

For 3-bedroom units, stacks 13, 20 and 21 are inward facing towards the arrival plaza.

Stack 11 is outward facing towards Tiong Bahru Road.

For 3-bedroom deluxe units, stacks 8 and 16 are inward facing with a pool view.

Stacks 7 and 23 are outward facing with the former facing Tiong Bahru Road and the latter overlooking a future park.

For 4-bedroom deluxe units, there is only one stack – stack 17 – and it is inward facing towards the children’s pool.

Lastly, for 3- and 4-bedroom Dual Key units, they are all within the 4-storey blocks facing Kim Tian Road.

Stacks 3, 4 and 5 have a full pool view while stacks 25 and 26 have water features around them.

 

Source: Developer's Brochure

Source: Developer’s Brochure

The grand pool on the first level is a great area for lounging and relaxing.

highline residences elevated ridge

 

Source: Developer's Brochure

Source: Developer’s Brochure

The elevated green ridge at level 5.

highline residences cascading garden

 

Source: Developer's Brochure

Source: Developer’s Brochure

The cascading garden.

highline residences gym

 

Source: Developer's Brochure

Source: Developer’s Brochure

The indoor gym on level 12.

Source: Developer's Brochure

Source: Developer’s Brochure

And, the function rooms on the 36th floor. These are perfect for hosting dinner parties.

 

There is also a concierge service – housekeeping, laundry, and dry cleaning among others – for residents. Should you choose to take up the lifestyle membership, you get limousine service on standby as well as exclusive club access to golf ranges.

 

Showflat units are available for the 1-, 2- and 3-bedroom deluxe units. Photos in this review are from the 1- and 3-bedroom deluxe units.

highline residences kitchen 1 BR

 

Cabinets with solid surface countertops and a sink with mixer are provided with the kitchen. Appliances provided in the 1-bedroom unit include a built-in oven and gas cooker hob from Bosch, a refrigerator from Smeg and a washer cum dryer from Whirlpool.

highline residences view from entrance 1 BR

 

The view from the entrance of the unit. The dining area is right in front of the kitchen.

highline residences living 1 BR

 

The living area is just beyond and extends to the balcony.

highline residences view from balcony 1 BR 1

 

The view from the balcony of the 1-bedroom unit.

highline residences bedroom 1 BR

 

The bedroom can accommodate a queen bed comfortably with more than enough leg room to spare.

highline residences bedroom sliding door 1 BR

 

The bedroom has a large sliding door for privacy too.

highline residences bathroom 1 BR 1

 

highline residences bathroom 1 BR 2

 

The bathroom has a wet and dry area as per usual and fittings are from Toto. You get a rain shower too.

highline residences view from balcony 1 BR 2

 

The view of the entire unit from the balcony.

highline residences kitchen 3 BR 1

 

highline residences kitchen 3 BR 2

 

The kitchen in the 3-bedroom deluxe unit is slightly bigger, and is to the left of the entrance.

highline residences utility 3 BR

 

highline residences water closet 3 BR

 

The kitchen is connected to the utility space and water closet.

highline residences living 3 BR 1

 

The living area is in front of the kitchen and extends to the balcony.

highline residences living 3 BR 2

 

The space is wide enough for segregation of the living and dining areas.

highline residences common bedroom 3 BR 1

 

highline residences common bedroom 3 BR 2

 

The common bedrooms can accommodate a queen bed, but going with a single option frees up more space.

highline residences common bathroom 3 BR

 

The common bathroom.

highline residences master bedroom 3 BR

 

The master bedroom can fit a queen-sized bed with leg room to spare.

highline residences master bathroom 3 BR 1

 

highline residences master bathroom 3 BR 2

 

And finally, the master bathroom.

highline residences view from balcony 3 BR

 

The view of the 3-bedroom unit from the balcony.

Buyers are likely to be a mix of owner-occupiers and those looking to lease. Singaporeans and permanent residents account for an estimated 92% of sales currently.

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Location

Tiong Bahru is one of the oldest housing estates in Singapore. The main estate consists of about 30 apartment blocks and also high-rise HDB flats and condominiums along Boon Tiong Road, Jalan Membina and Kim Tian Road. Lately, the place is known for its hipster culture and was even featured by Vogue magazine as one of the most hipster neighbourhoods in the world.

location, tiong bahru, condo

Source: Google Maps

Getting there: Highline Residences is located along Kim Tian Road of District 3. If you’re travelling by train in the mornings, Raffles Place MRT is 3 stops away from Tiong Bahru MRT. By car, it is a 5-minute drive to town via Zion Road and Hoot Kiam Road, assuming optimal traffic conditions.

transport, train

 

Tiong Bahru MRT is about a 5-minute walk away. From there, Dhoby Ghaut MRT is two stops down, City Hall MRT three stops and the entire Orchard Shopping Belt and CBD area four stops down.

The upcoming Havelock MRT will be a 6-minute walk away. Part of Stage 3 of the Thomson-East Coast MRT line connecting the northern regions of Singapore to the CBD and Marina Bay area, it should be ready sometime in 2021.

 

The estate: The area surrounding Highline Residences is mostly residential and commercial. The development is right in the middle of a stretch of road that has been earmarked by the Urban Redevelopment Authority as a key area to be preserved while also being revitalized for the future.

transport, tiong bahru

The nearest bus stop is the opposite Central Plaza, along Tiong Bahru Road. Between them, the services cover Pasir Ris, Bukit Merah, Bedok Reservoir, Eunos, Thomson, Simei, Marine Parade, Kent Ridge, Kallang, Geylang, Bugis, Clementi, Ubi, Aljunied, Redhill, Clarke Quay, Outram Park, Tanglin, Holland Road, Queenswat, Harbourfront, Commonwealth, Ang Mo Kio, Yishun, Orchard and the CBD area.

tiong bahru, condo, amenities

Source: Developer’s Brochure [click here for full version]

The project is a short walk away from Tiong Bahru Plaza. Great World City, Chinatown Point and the Orchard Shopping Belt are a short drive away.

 

As for school options, there are a few nearby.

education, tiong bahru

 

International Schools:

  • Overseas Family School
  • ISS International School
  • Chatsworth International School (Orchard Campus)

dining, shopping, malls

 

Tiong Bahru Plaza is about a 5-minute walk away. Anchor tenants at the suburban mall include NTUC Fairprice Finest, Uniqlo, Rubi Shoes, Kopitiam and Golden Village Cinemas. Due to reopen in end 2016 after a $90m revamp, the mall will have new communal spaces including an open terrace and a plaza. There will be 155 shops on five storeys.

tiong bahru, amenities, condo

 

Block 18, which is directly opposite Tiong Bahru Plaza and accessible via exit A of the MRT, has a number of general and specialist clinics as well as tuition and enrichment centres.

tiong bahru

 

For a quick bite, there is a food court opposite the development at Tiong Bahru View.

kim tian road, food, tiong bahru, amenities

 

With the row of shophouses along Kim Tian Road, there are dining options just across the road too.

amenities, supermarket, tiong bahru, condo

 

There is even a FairPrice outlet, for convenience.

cafe list, tiong bahru

Source: Developer’s Brochure [click here for full version]

Very importantly, the many cafes and boutiques shops making up the hipster culture in the neighbourhood.

dining, tiong bahru

Source: thesmartlocal.com/read/tiong-bahru-cafe-hopping-food-guide [click here for full version]

For a clearer picture.

shopping, dining, malls

 

If you are still not satisfied, VivoCity is a 4-minute drive away. Anchor tenants at Singapore’s largest mall include Golden Village Cinemas, VivoMart and Tangs Department Store. The mall boasts 340 stores.

 

Lastly, for healthcare needs, Singapore General Hospital is a 3-minute drive away.

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Analysis

Caveated transactions for Highline Residences at time of writing (May 2016) stands at 211. Recorded transaction prices range from $889K to $4.848M (see Chart 1).

Sale Transactions

Source: PropertyGuru, URA

Source: PropertyGuru, URA

Source: URA

Source: URA

Highline Residences’ closest competitor would be The Crest, located near Redhill MRT, along Prince Charles Crescent. Its current median price is $1,718 psf to Highline’s median of $1,817 psf. Residents at The Crest are also likely to be a good mix of owner-occupiers and tenants who like the project’s location.

Units at The Crest range from 1- to 5-bedroom units. To have a clearer picture, we will be looking at 1- and 3-bedroom units in particular, across both developments. According to caveats, Highline Residences’ 3-bedroom units have a median price of $1,746 psf while The Crest’s is $1,694 psf. Transactions for the units at Highline Residences range from $1.488M to $1.745M, and are between $1.66M and $2.419M at The Crest.

As for 1-bedroom units, Highline Residences’ have a median price of $1,897 psf and The Crest’s have a median price of $1,716 psf. Transactions for the units at Highline Residences range from $889K to $1.135M, and are between $992K and $1.463M at The Crest.

Before deciding based on these numbers alone, we should look at unit sizing as well. Units at The Crest are generally larger than at Highline Residences. 1-bedroom units are 506 sqft at Highline Residences and are between 614 sqft and 775 sqft at The Crest. 3-bedroom units are between 883 sqft and 915 sqft at Highline Residences. At The Crest, they are between 1,033 sqft and 1,335 sqft. Hence, the higher price points for units at The Crest.

 

Future Rental Potential

To understand what rental prices will be like for Highline Residences, we need to look at rental prices for other projects in the area.

The current median rental price for District 3 (Queenstown / Tiong Bahru) is around $3.84 psf per month at time of writing, based on rental transactions for the past 4 quarters. However, the current median rental price for non-landed properties along Kim Tian Road in particular, is around $4.67 psf per month at time of writing.

At these rates, a 3-bedroom unit around 904 sqft at Highline Residences would go for around $5,000 a month, after factoring a 20% premium for its new build. With the median price for the unit being around $1.588M, the annual gross rental yield at the current rate would be an estimated 3.8%. The median unit size of a 3-bedroom at The Crest, on the other hand, would probably fetch around $5,300 a month at today’s rental rates. This translates to around 3% in annual gross rental yield.

A 1-bedroom unit at Highline Residences would go for around $2,800 a month and this would approximately be a 3.5% rental yield. With The Crest, you could get around $3,100 a month and this would be an estimated 3.2% in annual gross rental yield.

According to the estimated figures, rental yield for Highline Residences seems to be a bit higher. The choice of nearby amenities are quite different, with the projects being about 1.3km apart. Unit sizing also differs with units at The Crest being larger.

Overall, Highline Residences seems to be the safer bet in terms of future rental yield.

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Summary

Location is Highline Residences’ biggest selling point. Situated strategically on the city fringe, the project is just minutes away from the bustling Orchard Shopping Belt and CBD area.

Easy access to major expressways like the CTE and AYE as well as proximity to Tiong Bahru MRT make it very convenient for residents – the number of rental contracts along Kim Tian Road over just the past 4 quarters is testament to this.

The only potential drawback would be that in terms of tertiary educational institutions, there aren’t any within short walking or driving distance.

Investment potential is high and this is clearly evident from the fast-selling 1-bedroom units. If you’re in the market for a unit in prime District 3, Highline Residences may be worth taking a look at.

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Eric Wong

Yasmin Beevi

Yasmin has been exploring show flats with her family since young and enjoys coming across interesting designs and offers. When she’s not at the office or on a site visit, she’s probably out trying new types of food with friends, at the theatres engrossed in a movie or occasionally, enjoying herself overseas.